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Exhibit 99.1
Contacts:
Peter C. Gonze
Senior VP, Operations & Investor Relations
AltaRex Corp.
(781) 672-0138 ext. 239
www.altarex.com / info@altarex.com
FOR IMMEDIATE RELEASE/CONFERENCE CALL TO FOLLOW
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ALTAREX TO PRESENT NEW OVAREX(TM) DATA FUNDAMENTAL TO TUMOR KILLING
-FINDINGS ADDRESS IMPORTANCE OF HAMA RESPONSE IN REGISTRATION TRIALS -
WALTHAM, WA, MAY 12, 2000 - ALTAREX CORP. (TSE: AXO, OTC: ALRXF) announced that
it will present new data at tomorrow's Immunology 2000 meeting (The American
Association of Immunologists and the Clinical Immunology Society Joint Annual
Meeting) elucidating the mechanism by which the Company believes OvaRex(TM) MAb
induces tumor killing through interaction with human-anti-mouse-antibodies
(HAMA). The data further help to explain a key observation, the beneficial
association of therapeutic activity and the presence of a substantial HAMA, in
the Company's ongoing controlled trials to register OvaRex(TM) MAb in North
America and Europe.
AltaRex scientists will present human in vitro data demonstrating that
OvaRex(TM) antibody complexes with CA125, a well established ovarian cancer
tumor associated antigen, and that immune system binding of these complexes is
dramatically enhanced in the presence of HAMA. Further, the resulting immune
response is shifted from a "helper" toward a cytotoxic T cell response, which is
considered more favorable for mounting an effective anti-tumor attack.
"These new findings are extremely important in the context of our ongoing
registration trials where approximately half of all patients receiving active
agent are generating substantial HAMA responses," commented Christopher
Nicodemus, MD, Senior Vice President of Clinical Research and Development at
AltaRex. "The studies also add enormous support to our understanding of
mechanism and to the value of our intellectual property portfolio, the subject
of a recently announced issued patent and a patent allowance."
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...page 2, May 12, 2000
The reported results amplify the Company's understanding of immunological
mechanisms previously observed in OvaRex(TM) treated patients, where extended
survival is related to CA 125-specific B and T cell activation and to the level
of CA 125 at the time of first injection. Further, an interim analysis of
AltaRex's lead OvaRex(TM) trial indicated preliminary evidence of a beneficial
effect in patients who demonstrated a strong HAMA response. An association
between HAMA and survival has already been reported in earlier OvaRex(TM) trials
and in the published literature.
"We now have a greater understanding of how patients who mount HAMA responses
may have augmented tumor immunity," continued Dr. Nicodemus. "This appears to be
based on the ability of HAMA to more effectively present the AIT(R)
antibody-tumor antigen complex to antigen presenting cells, specifically
dendritic cells in the experimental system described at the meeting. In other
reported studies of murine antibodies, the presence of strong HAMA can be
associated with toxicities we have not experienced in over 400 OvaRex(TM)
treated patients to date, rather than our observed beneficial effect, making our
findings extremely exciting, even unexpected, from a scientific and clinical
perspective."
Also, AltaRex will now initiate clinical site approvals and patient treatment as
the protocol for the previously announced new, well-controlled OvaRex(TM) trial
has cleared the thirty-day U.S. Food and Drug Administration (FDA) review
period. The new trial is expected to provide important data in support of the
Company's registration plan in the U.S. and Europe. Importantly, this controlled
active treatment trial will focus in part on patient HAMA response and efficacy
and will again make OvaRex(TM) MAb available to cancer patients, as all of the
other studies have been enrolled.
Richard Bagley, President & CEO of AltaRex Corp. and Christopher Nicodemus, M.D.
will host a conference call today which will also be broadcast live over the
internet to update you on Company activities and to answer questions.
WHEN: 11:00 a.m. Eastern Time
WHERE: www.altarex.com or call toll free: 1-888-303-1861
AltaRex Corp. is an antibody-based company focused on the development and
commercialization of cancer therapeutics. The Company's proprietary platform
technology, Antibody-based ImmunoTherapy, or AIT(R), is designed to enhance the
ability of the human immune system to produce its own anti-tumor response. In
addition to OvaRex(TM) MAb, which is in late-stage clinical development, the
Company has identified four additional product candidates for clinical
evaluation.
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...page 3, May 12, 2000
Additional information about AltaRex and its clinical trials can be found on its
web site at www.altarex.com or on the CenterWatch web site at
www.centerwatch.com. Additional information about ovarian cancer can be found at
www.ovariancanada.org and at www.ovarian.org.
This news release contains forward-looking statements that involve risks and
uncertainties, which may cause actual results to differ materially from the
statements made. For this purpose, any statements that are contained herein that
are not statements of historical fact may be deemed to be forward-looking
statements. Without limiting the forgoing, the words "believes", "anticipates",
"plans", "intends", "expects" and similar expressions are intended to identify
forward-looking statements. Such risks and uncertainties include, but are not
limited to the need for capital, changing market conditions, completion of
clinical trials, patient enrollment rates, uncertainty of preclinical,
retrospective and early clinical trial results, the establishment of
manufacturing processes and new corporate alliances, the timely development,
regulatory approval and market acceptance of the Company's products, and other
risks detailed from time-to-time in the Company's filings with the United States
Securities and Exchange Commission and Canadian securities authorities.
THE TORONTO STOCK EXCHANGE HAS NEITHER APPROVED NOR
DISAPPROVED OF THE INFORMATION CONTAINED HEREIN.
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